24th Nov 2022 13:43
(Alliance News) - EnSilica PLC said on Thursday its strong trading last year continued into its financial 2023 and it expects to meet market expectations.
The Oxfordshire, England-based electronic chip maker previously said its strong trading in the financial year that ended May 31 was buoyed by contract momentum, including a significant contract win with an unnamed European industrial original equipment manufacturer, announced in July.
Adjusted pretax profit for its financial 2022 was GBP165,000, swinging from a loss of GBP714,000 a year prior, prompting EnSilica to upgrade its financial 2023 expectations when its financial 2022 results were announced in October.
Executive Chair Mark Hodgkins told EnSilica's annual general meeting on Thursday that strong trading continued into the current financial year and it expects to meet its upgraded expectations.
"To further capitalise on this market opportunity, the group has continued to strengthen its sales and marketing efforts, appointing Peter Jeutter as our new vice president of worldwide sales, and has agreed new sales partnerships with Quantum Leap Solutions, covering North America, and Cedar Technologies, covering the UK, Nordic regions, and Poland," added Hodgkins.
EnSilica added it believes its order book and prospects pipeline are large enough to maintain future growth amid broader macroeconomic difficulties.
Shares in EnSilica were up 5.9% to 79.40 pence in London on Thursday afternoon.
By Greg Rosenvinge; [email protected]
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